On Tuesday, Warner Bros. Discovery adjusted its full-year earnings guidance to slash between $300 million to $500 million off its expected 2023 earnings.
The media company pointed to the ongoing Writers Guild of America and Screen Actors Guild and American Federation of Television and Radio Artists as the main catalyst for its new earnings cuts.
However, Warner Bros. Discovery still expects its key annual earnings to reach somewhere between the $10.5 and $11 billion figure.
“WBD is hopeful that these strikes will be resolved soon,” the company said in its earnings update filing with the Securities and Exchange Commission.
